Stephen King tells rich people upset over tax increases: ‘Tough s**t’

[gore0bsessed]

Wealthy Americans adverse to paying higher taxes may have found a new enemy in famous novelist Stephen King, who lashed out at his fellow high income earners Monday afternoon for complaining about a possible increase in their rates.
In a brutally candid and colorful op-ed column for The Daily Beast, King was relentless in his criticism of rich people upset over tax increases and Republican figures who defend them.
“Tough **** for you guys, because I’m not tired of talking about it,” King said. “I’ve known rich people, and why not, since I’m one of them? The majority would rather douse their dicks with lighter fluid, strike a match, and dance around singing ‘Disco Inferno’ than pay one more cent in taxes to Uncle Sugar.”
“Here’s another crock of fresh bull**** delivered by the right wing of the Republican Party (which has become, so far as I can see, the only wing of the Republican Party): the richer rich people get, the more jobs they create. Really? I have a total payroll of about 60 people, most of them working for the two radio stations I own in Bangor, Maine. If I hit the movie jackpot—as I have, from time to time—and own a piece of a film that grosses $200 million, what am I going to do with it? Buy another radio station? I don’t think so, since I’m losing my shirt on the ones I own already. But suppose I did, and hired on an additional dozen folks. Good for them. Whoopee-ding for the rest of the economy.”
King, who praised Warren Buffett several times through his op-ed for pushing for the rich to pay higher taxes, showed no signs of running out of stinging analogies for those on the right.
The Buffett Rule is a tax plan that would apply a minimum tax rate of 30 percent on individuals making more than a million dollars a year. The rule has however drawn some criticism from the left for potentially locking in the Bush tax cuts.
King joins Buffett, Bill Gates, and Russell Simmons among a list of wealthy, well known Americans to push for higher taxes on the rich.





Stephen King tells rich people upset over tax increases: ‘Tough s**t’ | The Raw Story

 

[mentalfloss]

I was never much into his horror stuff, but the Dark Tower series is one of the best pieces of fantastical fiction. Probably only second to LOTR if we want to get snobbish about it.

Good on him to have the guts to point out the obvious.

 

[captain morgan]

King should really consider moving to France where one of the political factions is looking at incorporating a 100% wealth tax over a certain threshold.. If King likes 30% in the States, he'll absolutely love the French proposal 3 times more.

 

[mentalfloss]

King should really consider moving to France where one of the political factions is looking at incorporating a 100% wealth tax over a certain threshold.. If King likes 30% in the States, he'll absolutely love the French proposal 3 times more.

I wouldn't make that assumption. I can see someone saying "tough ****" for an reasonable increase, but not an unreasonable one.

 

[captain morgan]

The definition of reasonable varies from person to person.

The Americans don't have an income problem, they have a spending problem. In this entire debate, it is rarely mentioned that around 50% of the US population doesn't pay federal taxes at all, so why would the the other half of the population feel good about shouldering the entire load?

King can rant and rave all he likes, but he's in the enviable position of being able to (potentially) hit one outta park every few years - the rest of the world has to work for many years to potentially get in that position... Take away the impetus and you'll see fewer people/groups willing to take that chance.

 

[mentalfloss]

The definition of reasonable varies from person to person.

The Americans don't have an income problem, they have a spending problem. In this entire debate, it is rarely mentioned that around 50% of the US population doesn't pay federal taxes at all, so why would the the other half of the population feel good about shouldering the entire load?

It should go without saying that people should be held accountable for doing their taxes.

 

[TenPenny]

King can rant and rave all he likes, but he's in the enviable position of being able to (potentially) hit one outta park every few years - the rest of the world has to work for many years to potentially get in that position... Take away the impetus and you'll see fewer people/groups willing to take that chance.

If I follow you correctly, because he's in the position to make lots of money, he shouldn't be allowed to suggest that people who make lots of money should pay more in taxes, because people who DON'T make lots of money have to work hard and shouldn't pay more.

 

[captain morgan]

It should go without saying that people should be held accountable for doing their taxes.

That and too many soft options made available via social services

If I follow you correctly, because he's in the position to make lots of money, he shouldn't be allowed to suggest that people who make lots of money should pay more in taxes, because people who DON'T make lots of money have to work hard and shouldn't pay more.

Nope... The message is that it isn't King's position to dictate what 'should' be paid... The example of King's potential that you butchered was merely a notation that his business sector is not representative of the average sector.

That said, if King, Buffet, Gates, et al want to pay more - there is nothing stopping them, the sky's the limit - all they need do is cut a cheque to the Federal Treasury.

As far as the people that DON'T make lots of money, they still should contribute something OR lower their expectations relative to what services/benefits that they believe are their inalienable right to receive.

Does that clear it up for ya?

 

[mentalfloss]

That and too many soft options made available via social services.

In terms of a surplus or a deficit though, it's much more dangerous to have fewer services and lower taxes than the other way around.

 

[captain morgan]

I disagree... It is far easier and the response time is much faster to incorporate more services into a system. Carving them out is a slow and painful process that upsets many... Take a look at the Statscan cuts that are coming online.

 

[mentalfloss]

I disagree... It is far easier and the response time is much faster to incorporate more services into a system. Carving them out is a slow and painful process that upsets many... Take a look at the Statscan cuts that are coming online.

I'm not sure I follow. You think cutting statscan is a good thing?

 

[captain morgan]

I'm unsure if it's a necessary cut or not (Statscan), my reason for incorporating that example had to do with the 'ease' of cutting services as opposed to introducing them.

 

[MHz]

Wonder if Stephen will put out a new book showing what happens when less that 1% feel they deserve more than 50% of the available goods. The backstabbers backingstabbing themselves in fear of, .... wait for it, .... being stabbed in the back by the backstabbers

A few imploding nations along with planned genocide of certain areas of the world, that is the real world today.
Perhaps a series in cartoon form where the cartoonist helps humanity break away from subliminal control by using subliminal control via the cartoon show using subliminal messages. In a cartoon can you use likenesses for people such as kings and queens and heads of states?
The rich fail to realize that withpout the poor they would have no riches to speak of and no matter how rich you get somebody is always richer and therefore they will always hold the reign of power and any other riches are an illusion that can vanish in a heartbeat.

By putting out a quality product Mr. King sold enough to allow for an income and a 'donation' to the State that allowed him to do that. That just shows he's not a greedy little lick like most of the rich are and that baseline should probably be $1B total assets rather than how much the yearly scape is.

 

[captain morgan]

Wonder if Stephen will put out a new book showing what happens when less that 1% feel they deserve more than 50% of the available goods.

Do the 1%ers get the 50% of all goods gratis?.. Delivered to their front door free of charge?

 

[TenPenny]

As far as the people that DON'T make lots of money, they still should contribute something OR lower their expectations relative to what services/benefits that they believe are their inalienable right to receive.

Does that clear it up for ya?

Yes it does. You want King to address something other than what he was talking about.
Makes perfect sense to me.

You don't think people with high incomes should pay higher rates of taxes, that seems to be your point. Which has some logic to it.

Flat tax rate with no deductions, and no minimum income level to pay taxes would be perfectly fair.
And when I say no deductions, I do mean no deductions.

Dividends, capital gains, income from employment, all taxed at the same rate. End of story. Make it like a GST calculation. How much income came in to your name? Take x% of that figure. Done. Whether you're an incorporated body, or a person.

 

[captain morgan]

Works just fine for me.

 

[MHz]

Take the taxes up front and have the year-end always be a refund that way they will be sure to file.
Who cares what 'plan' is deemed 'fair' if nothing ever changes?

 

[captain morgan]

Who cares what 'plan' is deemed 'fair' if nothing ever changes?

What does change is how the capital reacts. Keep an eye on France if that plan to tax 100% of profits over 'X' amount is instituted. I'd bet that the big corps and high net individuals relocate their business' to the UAE or the Caymans... All of that money will pay into those local tax bases and benefit those communities.

 

[MHz]

Why not use an example where they are not already on the ropes? The rich should all kick in their funds to pay the debt, why should the poor people be using the funds that should be an inheritance to their grandkids while the rich are the only ones in the 'black'? Watch the rich whine about that while the poor have no say at all. Do you think the poor really cared when the stock market crash had the former rich guys jumping off anything tall.

 

[JLM]

Extra taxes on the rich is often a mistake- rich people by and large know how to grow money, the Gov't doesn't. Money in the hands of the rich goes to pay employees and quite often to charities, while money in the hands of Gov't gets squandered, much of it on bureaucracy.